Bid talk for Vodafone and forex bank fines prompt a FTSE rally – London Report May 20, 2015 SPECULATION of a takeover bid for telecommunications giant Vodafone sent its share up yesterday – and the FTSE 100 along with it. Britain’s top share index climbed back towards earlier record highs also buoyed by gains in major bank stocks. The blue-chip FTSE 100 index ended up 0.2 per cent at 7,007.26 points, close to [...]
Barclays and RBS share prices are rising on the back of the forex fine May 20, 2015 The share prices of British banks Barclays and Royal Bank of Scotland are on the rise following the US attorney general's announcement of a multi-billion fine for their involvement in the forex rigging scandal. The $5.6bn fine is a record-breaker, and brings the total paid to settle the forex scandal by the five banks [...]
US officials hand down multi-billion forex-rigging fine to UBS, JPMorgan, RBS, Citicorp and Barclays May 20, 2015 US officials have confirmed the multi-billion-dollar bill being paid by five of the world's biggest banks for their involvement in the forex-rigging scandal. JPMorgan Chase, Royal Bank of Scotland, Citicorp and Barclays will plead guilty to US criminal charges, paying a total of $5.6bn to settle the allegations that date back to 2007. UBS is [...]
Forex-rigging scandal: Barclays given largest fine in FCA history May 20, 2015 Barclays has been fined £284.4m by the Financial Conduct Authority (FCA) for failing to control business practices in its London foreign exchange operations. The bank's "inadequate and ineffective" control over its forex floor led to the biggest fine ever handed out by the FCA. Last year the bank opted out of a mass settlement in [...]
UBS to pay US authorities $545m over forex-rigging scandals May 20, 2015 UBS is to pay $545m (£351.7m) to US authorities to settle a series of investigations into the bank's alleged rigging of the foreign exchange markets and Libor. The Swiss bank confirmed the total, to be paid to the Department of Justice, the board of governors of the Federal Reserve and the Connecticut Department of [...]
Barclays to settle £2bn forex-rigging case May 17, 2015 Barclays Bank is closing in on a major £2bn settlement with regulators around the world, drawing to a close its role in the deeply damaging foreign exchange markets rigging scandal. The bank, whose chief executive is Antony Jenkins, is attempting to settle with a number of regulators simultaneously. Last November it pulled out of a [...]
Citi avoids Libor charge but faces forex-rigging settlement May 11, 2015 Giant investment bank Citi will not face prosecution over Libor manipulation from the US Department of Justice, yesterday announcing that the investigation is at an end. However, Citi is expected to be one of at least four banks settling the allegations of foreign exchange manipulation with US regulators this week. The bank has already paid [...]
Citigroup reveals it could plead guilty in Forex investigation May 11, 2015 Citigroup has said it could plead guilty to antitrust charges relating to Forex manipulation. The US bank is one of six being investigated by the Department of Justice (DOJ), over claims that employees colluded to change foreign exchange rates to boost their own profits. They are accused of sharing confidential information about clients [...]
Barclays joins banks paying fines over forex-rigging scandal May 10, 2015 Barclays, RBS, JP Morgan and Citigroup are all expected to settle forex manipulation accusations with US regulators as soon as this week. Shares in the sector have been held down by uncertainty around the scale of the fines, which are expected to come in at around the £3bn mark. It comes six months [...]
Rolls Royce hit with £350m forex blow May 8, 2015 Rolls-Royce expects to see its restructuring efforts bear fruit in the second half of the financial year, but expects a massive forex hit of £350m. The £350m is a translation effect: from translating revenues back into pounds to report results. This creates a year on year differences, depending on the behaviour of currencies during that [...]